Posted: September 5, 2012 in This is the Voice of Lefty Reason

As the wettest summer on record draws to close and floods and gales continue to spoil many a barbeque and family day out some British Water Companies signalled that they will finally lift their hosepipe ban. The water that falls from the sky used to belong to us, the British people, through the nationalised water board; seems fair enough? Then the great Privatisation debacle handed the precipitation to private companies owned by a relatively few shareholders. These “owners” made massive profits and failed to invest in repairs and new reservoirs for fear of diluting their enormous yearly dividends. Nationalised industries such as British Rail, British Gas, British Telecom were a tad inefficient but at least we were safe in the knowledge that no-one was getting fat on the profits and that these “commanding heights” of the economy were owned by us, for us. Thatcher’s battle cry for a “shareholding society” sounded great in principle; not so good in practice as initial shareholders cashed in quickly and the shares ended up in the hands of the few.  Next time you get caught in a downpour just remember that someone, somewhere is cashing in.


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